Financial Services >> Sector Roundtables >> September 3, 2001

Roundtable Forum: Life Insurance

MICHELLE A. GIORDANO, Vice President, is the Senior Life Insurance Analyst in the Equity Research Group of J.P. Morgan Securities, Inc. Prior to this assignment, she was responsible for joint coverage of the property/casualty industry and the life insurance industry for the firm. Ms. Giordano graduated from New York University's Stern School of Business with a BS in Finance and Accounting and an MBA in Finance. She is presently the Treasurer of the Association of Insurance and Financial Analysts. Ms. Giordano has been ranked by Institutional Investor as a runner-up in October 2000 and as the 'Next Generation' analyst for the life insurance industry in 1997, and has been ranked in the Wall Street Journal All-Star Analyst Survey for stock picking and for earnings estimate accuracy. Profile
COLIN W. DEVINE is a Managing Director at Salomon Smith Barney Inc., where he is responsible for providing equity research coverage on a diverse group of North American life insurance companies. He was formerly a Director in Standard & Poor's Insurance Ratings group where he covered a variety of life and property casualty insurers and had been associated with a major Canadian life insurer where he was involved in investment and risk management, as well as a number of corporate development initiatives. Mr. Devine was ranked number one in the Life Insurance Equity Research team and was also named to Institutional Investor's 2000 All America Research team in the stock picking category. A Chartered Financial Analyst and Certified Management Accountant, he holds an MBA in Finance from York University and a BS in Biology from the University of Guelph. Profile
ALFRED M. CAPRA is the Senior Life Insurance Analyst at Oppenheimer & Co. Inc. Prior to joining Oppenheimer in December 2003, he spent nearly four years at Putnam Lovell NBF, a financial services boutique, where he lead the firm's life insurance research effort and also served as Head of Research. In 2001, Mr. Capra was selected as StarMine's top analyst in stock picking performance within the life insurance industry. Prior to joining Putnam Lovell, Mr. Capra was associated with Keefe, Bruyette & Woods, Inc., and Wasserstein Perella, where he was responsible for covering the life insurance industry. Prior to joining Wasserstein in 1996, Mr. Capra was part of the top ranked insurance research team at Salomon Brothers, where he began his career in 1990. Profile
TWST: Colin, will you review the performance of the life insurance and

annuity stocks in 2001 year to date that are the subject of our

discussion today?

Mr. Devine: I cover North American life